Federal Reserve Bank of San Francisco

Economic Research

Fiscal and Monetary Policy

March 4 - March 5, 2005

The Federal Reserve Bank of San Francisco

Agenda Download (PDF – 41KB)

Agenda Summary

Agenda

Friday, March 4
8:10 A.M.
Continental Breakfast
8:50 A.M.
Welcoming Remarks:
Janet Yellen, Federal Reserve Bank of San Francisco
Morning Session Chair: John C. Williams, Federal Reserve Bank of San Francisco
9:00 A.M. Monetary and Fiscal Policy in a Liquidity Trap: The Japanese Experience 1999-2004
(Paper: PDF – 569KB)
Presenters:
Mitsuru Iwamura, Waseda University
Takeshi Kudo, Hitotsubashi University
Tsutomu Watanabe, Hitotsubashi University
Discussants:
Laurence Ball, Johns Hopkins University
Marvin Goodfriend, Federal Reserve Bank of Richmond
10:30 A.M. Break
11:00 A.M. Optimal Fiscal Policy in a Monetary Union
(Paper: PDF – 350KB)
Presenters:
Jordi Gali, Universitat Pompeu Fabra
Tommaso Monacelli, Universita Bocconi
Discussants:
Maurice Obstfeld, University of California, Berkeley
Comments
Carl Walsh, University of California, Santa Cruz
Comments
12:30 P.M. Lunch — Market Street Dining Room, Fourth Floor
Afternoon Session Chair: Richard Dennis, Federal Reserve Bank of San Francisco
2:00 P.M. Model Uncertainty and Policy Evaluation: Some Theory and Empirics
(Paper: PDF – 708KB)
Presenters:
William Brock, University of Wisconson
Steven Durlauf, University of Wisconsin
Kenneth West, University of Wisconsin
Discussants:
Lars Hansen, University of Chicago
Comments
Christopher Sims, Princeton University
Comments
3:30 P.M. Break
4:00 P.M. Estimating the Effects of Fiscal Policy in OECD Countries
(Paper: PDF – 944KB)
Presenters: Roberto Perotti, Universita Bocconi
Discussants: Alan Auerbach, University of California, Berkeley
Comments
Valerie Ramey, University of California, San Diego
Comments
5:30 P.M. Reception — West Market Street Lounge, Fourth Floor
6:30 P.M. Dinner — Market Street Dining Room, Fourth Floor
Introduction: Janet Yellen, Federal Reserve Bank of San Francisco
Speaker: Douglas Holtz-Eakin, Congressional Budget Office
Saturday, March 5
8:00 A.M. Continental Breakfast
Morning Session Chair: Glenn Rudebusch, Federal Reserve Bank of
San Francisco
8:45 A.M. The Design of Monetary and Fiscal Policy: A Global Perspective
(Paper: PDF – 826KB)
Presenters: Jess Benhabib, New York University
Stefano Eusepi, Federal Reserve Bank of New York
Discussants: George Evans, University of Oregon
Comments
John Leahy, New York University
Comments
10:15 A.M. Break
10:30 A.M. No-Arbitrage Taylor Rules
(Paper: PDF – 1.25MB)
Presenters: Andrew Ang, Columbia University
Sen Dong, Columbia University
Monika Piazzesi, University of Chicago
Discussants: Andrew Levin, Federal Reserve Board
Comments
Thomas Philippon, New York University
Comments
12:00 P.M. Lunch
1:00 P.M.
Adjourn